Santa Clarita Valley Home Sales Activity - November 2021

Yes, of course, inventory is down right now. We just had Thanksgiving, Hanukkah is happening right now, Christmas is just a few short weeks away!

You may be surprised to read this but sales are still robust. Yep, I like that word! LOL

Reminder, I include Acton, Agua Dulce, Canyon Country, Saugus, Newhall, Valencia, Stevenson Ranch, Val Verde, & Castaic as SCV. So, the below numbers are with those areas included.

As of this moment:

Coming Soon: 13

Active: 217

In Escrow: 518

Closed in the Last 30 Days:

I have no idea what/who this little guy is, but the number on his hat worked for this post!

I've got 2 Sellers working on the list of things I suggested to get their home market ready. I've got a couple back-burner buyers.

Really looking forward, so bad to say this, for the holidays to be over so we can get back to selling homes for people! 

If you have questions about Real Estate, whether Selling or Buying, just give me a shout. 

Lauren@KeepYourWitz.com / (661) 313-5470

What to do With Your Home Equity

4 Ways Homeowners Can Use Their Equity

Your equity is a powerful tool that can help you achieve your goals as a homeowner. And chances are, your equity grew substantially over the past year. According to the latest Equity Insights Report from CoreLogic, homeowners gained an average of $51,500 in equity over the past year.

If you’re looking for the best ways to use your growing equity, here are four options:

1. Use Your Equity To Buy a Home That Fits Your Needs

If you’re finding you no longer have the space you need, it might be time to move into a larger home. Or, it’s possible you have too much space and would like something smaller. No matter the situation, consider using your equity to power a move into a home that fits your changing lifestyle. Moving into a larger home can provide extra space for remote work or loved ones. Downsizing, on the other hand, may mean saving time and money by caring for a smaller home.

2. Move to the Location of Your Dreams

If the size of your home isn’t a challenge but your current location is, it could be time to relocate to a new area. Maybe you enjoy vacationing in the mountains, at the beach, or another area, and you’re dreaming of living there year-round. Or perhaps the distance between you and your loved ones is greater than you’d like, and you want to close the gap. No matter what, your home equity can fuel your move to the location where you really want to live.

3. Start a New Business

If you’re not ready to move into a new home, you can use your equity to invest in a new business venture. As the U.S. Small Business Administration Office of Advocacy says:

“There is an estimate of 31.7 million small business owners in the United States, many of them started their business with the equity they had in their home.”

While it’s not recommended that homeowners use their equity for unnecessary spending, leveraging your equity to start a business that you’re passionate about can potentially grow your nest egg further.

4. Fund an Education

Whether you have a loved one preparing to head off to college or you’re planning to go back to school yourself, the thought of paying for higher education can be daunting. In either situation, using a portion of your growing equity can help with those costs, so you can make an investment in someone’s future.

Bottom Line

Your equity can help you achieve your goals. If you’re unsure how much equity you have in your home, let’s connect today so you can start planning your next move.

Totally My Opinion Here... On The Zillow Mess.

So, by now, everyone and their brother has read about the Zillow fiasco. I've decided just to blog about that elephant in the room today!

Maybe you don't consider it a fiasco, but most Realtors are actually tickled pink that Zillow got egg on their face. I mean, the meme's going around are hilarious. The Realtor networking groups are making them up daily.

For me? I'd say it's about time they took a tumble. A very big, financially challenging, tumble.

As long as I've been a Realtor, and Zillow has been around, I've done battle (practically) with clients over those Zestimates. I've told clients time & time again, use them for their easy navigation, but look at other sites for reality, etc.

Recently Zillow became a brokerage. They got 'in-bed' with one particular company and they tried to do a bit of monopolizing the market. They also did some scandalous, completely against the association of Realtor code of ethics, things that I blogged or YouTubed about before. No need to repeat.

Recently I became involved in one of their iBuying fiascos. It was awful. And, later we found out that they paid way too much for the house. Not sure if they used their Zestimate, but they over paid by about 60k if I'm remembering correctly.

My eldest son even got wind of Zillow buying up properties for more than they were worth. What did I think of that he wondered. 

We agents all figured they were just trying to gain a market share. Say, look at us, we buy & sell sooooo many houses! Hah.

So, here we are now, they have stopped doing the iBuying, have admitted to a financial fiasco, and have let go of quite a large chunk of Zillow employees.

My take on this? Well, the only thing I love about Zillow is my profile on their site. It will keep track of my sales, allow my clients to post reviews, heck I've even got my Love-My-Peeps party video on there!

But, when a company tries too hard to be the best, without having the experience, expertise, and ethics, to truly be the best....you know what happens.

And, it happened. Happened as large as that elephant in the picture. Not sure what their recovery is going to be like, but for now.....let this serve as a reminder that not all realtors are created equal. And, needless to say, the bigger is certainly not always the better. IMHO.

~ Lauren Witz Greber ~ (Licensed as Lauren Lefkowitz) ~ Lauren@KeepYourWitz.com ~

Yep, They Still Do!

Sellers Have Incredible Leverage in Today’s Market

With mortgage rates climbing above 3% for the first time in months, serious buyers are more motivated than ever to find a home before the end of the year. Lawrence Yun, Chief Economist for the National Association of Realtors (NAR), puts it best, saying:

"Housing demand remains strong as buyers likely want to secure a home before mortgage rates increase even further next year."

But the sense of urgency they feel is complicated by the lack of homes for sale in today’s market. According to the latest Existing Home Sales Report from NAR:

“From one year ago, the inventory of unsold homes decreased 13%. . . .”

What Does This Mean for Sellers Today?

With buyers eager to purchase but so few homes available, sellers who list their houses this fall have a tremendous advantage – also known as leverage – when negotiating with buyers. That’s because, in today’s market, buyers want three things:

• To be the winning bid on their dream home.
• To buy before rates rise
• To buy before prices go even higher.

Your Leverage Can Help You Negotiate Your Best Terms

These three buyer needs give homeowners a leg up when selling their house. You might already realize this leverage enables you to sell at a good price, but it also means you can negotiate the best terms to suit your needs.

And since buyer demand is still high, there’s a good chance you’ll get offers from multiple buyers who are willing to compete for your house. When you do, look closely at the terms of each offer to find out which one has the best perks for you.

If you have questions about what’s best for your situation, your trusted real estate advisor can help. They have the expertise and are skilled negotiators in all stages of the sales process.

Bottom Line

Today’s buyers are motivated to purchase a home this year, and that’s great news if you’re thinking of selling. Let’s connect today to discuss how much leverage you have as a seller in today’s market.

Story of The Week - Things I Thought Every Realtor Did!

Yeah, yeah...you've seen the long list of things a Realtor does. And, trust me, my list is very long. Some times I feel like I'm on auto-pilot since I've been doing it for 19+ years. But, the bumps & hurdles in the road to close escrow help to keep my on my toes.

My hubby and I have been looking at retirement property recently. Hard to have my Realtor hat off while someone else 'plays' Realtor for us. REALLY hard. And, as our agent will tell you, it's hard on him as well. LOL

But, things we've discussed make me wonder if every agent does a few things that I always do. Or, they just take the listing, get the sign posted, put it in the MLS, and wing it?!?!?

1) I, 99.9% of the time, meet my photographer at the my listings for a shoot. Only times I haven't met him was when he had to go back for twilight shots. I want to make sure he's getting the image I have in my head for the best presentation on one of my listings. I'm the one that works with buyers, so I'm the one that needs to show him what those buyers will want to see at one of my listings.

    I have come to find out that not all agents do that. Really?

2) I, 99.9% of the time,  meet the Appraiser at the property. I think once I couldn't be there....but I made sure he had the full contract (if he needed it) AND, that the list of upgrades I always hand over were waiting in an envelope just for him.

    I have come to find out that not all agents do that either. Really?

3) 100% of the time I am at the buyers home inspection when I'm working with buyers. I want to see what the inspector is finding, I do my own agent inspection, and if buyers want to be there...well, damn, I definitely think their agent should be there as well.

    I have come to find out that not all agents do that too. Sheesh. Really?

Part of this came from my conversations with the retirement house Realtor. But, a lot came from the appraiser I just met today...and, yes, I totally had my list of upgrades ready for him!

AnyWhoHow, I was pretty surprised. And, thought it'd make for a good blog post!

Questions about Real Estate? Just Holler!

Lauren@KeepYourWitz.com / (661) 313-5470

Renovation Thoughts Before You List Your Home For Sale

 The Best Use of Time (and Money) When It Comes to Renovations

In the current sellers’ market, many homeowners wonder what, if anything, needs to be remodeled before they list their house. That’s where a trusted real estate professional comes in. They can help you think through today’s market conditions and how they impact what you should – and shouldn’t – renovate before selling.

Here are some considerations a professional will guide you through:

1. With current supply challenges, buyers may be willing to take on projects of their own.

A more balanced market typically sees a 6-month supply of homes for sale. Above that, and we’re in a buyers’ market. Below that, and we’re in a sellers’ market. According to a recent report by the National Association of Realtors (NAR), our current supply of homes for sale, while rising, still remains solidly in sellers’ market territory:

“Unsold inventory sits at a 2.6-month supply at the current sales pace, modestly up from May's 2.5-month supply but down from 3.9 months in June 2020.”

So, what’s that mean for you? If you’re a seller trying to decide whether or not to renovate, this is especially important because it’s indicative of buyer behavior. When there aren’t enough homes for sale, buyers may be more willing to purchase a home that doesn’t meet all their needs and renovate it themselves later.

2. Not all renovation projects are equal.

You don’t want to spend time and money on a project that isn’t worth the cost or is too niche design-wise for some homebuyers. According to an article by Renofi.com, basing home updates on what’s trendy right now can be a costly mistake:

“The last thing you as a homeowner want to do is center your home design around a passing fad - even worse, one thats design quality won’t last a good while.”

Before making any decisions, talk to your real estate advisor. They have insight into what other sellers are doing before listing their homes and how buyers are reacting to those upgrades. Don’t spend the time and money to be trendy – if your buyer wants to upgrade to the newest fad later, they can.

3. If you’ve already made upgrades this past year, your agent can help spotlight them.

If you have already completed some renovations on your house, you’re not alone. The pandemic kept people at home last year, and during that time, many homeowners completed some home improvement projects. HomeAdvisor’s 2021 State of Home Spending Report found:

“35% of households that completed an improvement project undertook some type of interior painting, while 31% completed a bathroom remodel and 26% installed new flooring.”

Let your real estate professional know if you fall in this category. They can highlight any recent upgrades you’ve made in your house’s listing.

Bottom Line

When it comes to renovations, your return-on-investment should be top of mind. Let’s connect today to talk through any upgrades you’ve already made and to find out what you should prioritize before you sell to maximize your house’s potential.

4 Tips To Prep for Your Home Sale This Fall

Even in a hot sellers' market like today's in which homes are selling so quickly, it's still important to make a good first impression on potential buyers. Taking the time upfront to prep your house appropriately can bring in the greatest return on your investment.

Here are four simple tips to make sure you maximize the sale of your house this fall.

1. Price It Right

One of the first things buyers will notice is the price of your house. That's why it's important to price it right. Your goal in pricing your house is to draw attention from competing buyers and let bidding wars push the final sales price up. Pricing your house too high to begin with could put you at a disadvantage by discouraging buyers from making an offer.

Your trusted real estate advisor can help you find the price for your home that reflects the current market value. Lean on your agent to help you with this crucial first step.

2. Keep It Clean

It may sound simple, but keeping your house clean is key to making sure it gets the attention it deserves. As realtor.com says in the Home Selling Checklist:

When selling your home, it's important to keep everything tidy for buyers. . . . Remember to take special care with the bathroom, making sure the tile, counters, shower, and floors shine.

Before each buyer visits, assess your space and determine what needs your attention. Wash the dishes, make the beds, and put away any toys. Doing these simple things can reduce any potential distractions for buyers.

3. Make It Easy To Visit

Giving buyers the opportunity to see your house on their schedule can be a true game-changer. Buyers are less likely to make an offer if it's difficult to plan a tour or they can't easily fit it into their schedule. Making your house available as often as possible helps create opportunities for more buyers to fall in love with your house.

Rest assured your trusted real estate advisor will keep your health and safety top of mind when buyers tour your home. Agents use the latest guidance to stay up to date on any protocols and sanitization recommendations.

4. Help Buyers Feel at Home

Finally, it's important for buyers to see all the possible ways they can make your house their next home. As the realtor.com article puts it:

The goal is to create a blank canvas on which buyers can project their own visions of living there, and loving it.

An easy first step to create this blank canvas is removing personal items – pictures, awards, and sentimental belongings – from your space. If you're unsure what should be packed away and what can stay, consult your trusted real estate advisor. Spending the time on this step can pay off in the long run, as the 2021 Profile of Home Staging from the National Association of Realtors notes:

Eighteen percent of sellers' agents said home staging increased the dollar value of a residence between 6% and 10%.

Bottom Line

To make the most of today's sellers' market, avoid the temptation to skip over the essential preparation steps. Let's connect today to discuss all the ways you can maximize your home sale.